Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Perpetuity Growth Rate | 7.2% - 7.8% | 7.5% |
| Discount Rate | 13.4% - 12.4% | 12.9% |
| Fair Value | €18.48 - €24.01 | €20.86 |
| Upside | -11.4% - 15.1% | 0.0% |
| Project Adjusted Dividends | ||||||||
| Fiscal Year Ending | ||||||||
| (EUR in millions) | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Terminal | |
| Net Income to Common | 96 | 36 | 65 | 153 | 81 | 71 | 71 | |
| % Growth | 43.3% | -62.4% | 79.2% | 137.2% | -47.1% | -12.3% | ||
| Payout Ratio | 34.7% | 46.0% | 57.0% | 68.0% | 79.0% | 90.0% | 92.5% | |
| Projected Dividends | 33 | 33 | 37 | 104 | 64 | 64 | 66 | |
| % Growth | -1.5% | 12.2% | 183.0% | -38.5% | -0.1% | |||
| Historical Performance | ||||||||
| Fiscal Year Ending | YTD | YTD | ||||||
| (EUR in millions) | Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | Jun-24 | Jun-25 | |
| Cash Dividends Paid | 10 | 16 | 25 | 36 | 33 | 33 | 33 | |
| % Growth | 56% | 60% | 44% | -8% | 0% | |||
| Net Income to Common | 31 | 49 | 71 | 67 | 96 | 18 | 5 | |
| % Growth | 57% | 46% | -6% | 43% | -70% | |||
| Payout Ratio | 33% | 32% | 35% | 54% | 35% | 187% | 625% | |
| Retention Ratio | 67% | 68% | 65% | 46% | 65% | -87% | -525% | |
| Adjusted EBITDA | 73 | 115 | 222 | 143 | 182 | 65 | 50 | |
| % Growth | 59% | 92% | -36% | 28% | -24% | |||
| Total Debt | 640 | 627 | 688 | 880 | 1,114 | 916 | 947 | |
| Shareholder's Equity | 203 | 227 | 299 | 321 | 367 | 293 | 343 | |
| Debt / EBITDA | 8.8 | 5.4 | 3.1 | 6.2 | 6.1 | 5.7 | ||
| Debt / Equity | 316% | 276% | 230% | 274% | 304% | 312% | 276% | |
| 3-Yr Avg. Dividend Growth | 32.0% | |||||||
| 5-Yr Median Payout Ratio | 34.7% | |||||||